SURE - AdvisorShares Insider Advantage ETF

Find the Insider Advantage

Invest in firms reducing their equity float through buyback programs and insider buying

Symbol Exchange Inception Date CUSIP NAV Options Available
SURE NYSE Arca 10/4/2011 00768Y818 SURE.NV Yes
About the ETF

Following a core investment philosophy that corporate insiders know their companies the best, the AdvisorShares Insider Advantage ETF (SURE) seeks to invest in the equities of companies actively trying to reduce their public equity float through well-executed stock buyback programs and corporate insider buying. Not only do buybacks and insider buying demonstrate that executives may see relative value in the firm’s stock, they also could create favorable shareholder market conditions through the reduction of publicly available shares (float shrink). SURE selects holdings using an active, quantitative, multi-factor model to identify companies shrinking float, lowering leverage, growing free cash flow, and providing dividends. SURE’s holdings are equal-weighted and reconstituted/rebalanced monthly.

What Is Float Shrink?

Public equity float refers to the portion of a company’s outstanding shares that is in the hands of public investors – as opposed to company officers, directors, or stockholders that hold controlling interests – and are available for trading in the open market. The float is calculated by subtracting restricted shares from outstanding shares. Float shrink occurs when there is a reduction of publicly available shares.

Buybacks – action taken by a corporation to repurchase its own shares from the marketplace – are the most common cause of float shrink today and one of two ways a company can distribute profits to shareholders. Dividend payments are the second form. While firms may implement both, since 1997, share buybacks have surpassed cash dividends to become the dominant form of corporate payout in the U.S. Not only do buybacks avoid a stock price penalty if a firm cuts or ends a program, like dividends are subject to, but also provide a positive market impact by improving earnings and cash flow per share.

Insider buying – the purchase of shares in a corporation by a board member, officer, or executive within that company (i.e., corporate insider) – is another way that float shrink occurs. It may be a strong indicator that insiders are becoming more optimistic about the company’s future. Buying by corporate insiders is legal, highly regulated, publicly disclosed, and different from “insider trading” – the illegal act of buying or selling stock by someone who has privileged, non-public information about a company.

 

Why Invest?
  • Investing with Corporate Insiders – Top firm executives know more about the company’s fundamentals than the investing public. These insiders can influence their company’s share price by timing equity issuance and repurchase to the firm’s advantage. A well-implemented buyback program reduces publicly available shares and can increase the stock’s price. Additionally, corporate insider buying can be a bullish signal that the stock is underpriced by the market.
  • Conscientious Float Shrink – Investing solely in stock buybacks can be problematic. SURE employs a comprehensive, multi-factor strategy to assess if a firm is reducing their float in a well-planned manner, analyzing free cash flow, profitability, leverage reduction, dividend yield, net buybacks and insider buying.
  • Disciplined Growth – A quantitative, actively managed, equal weight investment strategy focused on long-term growth.

 

Key Attributes
  • Float Shrink – Corporate insiders have better information than the investing public and know their companies the best. Stock buyback programs and insider buying not only show that corporate insiders see relative value in investing in their own equity securities, but also create favorable market conditions for shareholders by reducing the number of publicly traded shares and improving earnings and cash flow per share.
  • Extensive Stock Screening – SURE’s portfolio manager screens approximately 3,000 companies and looks for the following characteristics when selecting stocks: shareholder-friendliness (measured by float shrink and dividend yield), profitability (measured by free cash flow), solid balance sheet (measured by outstanding leverage).
  • Equal Weight Investing – In a market-cap weighted portfolio, a small number of the largest companies receive the heaviest allocations and overvalued components are overweighted relative to undervalued components. By contrast, with an equal weight strategy, the bias to the largest companies is removed; a buy low, sell high discipline is regularly followed with periodic rebalancing; and reallocation to undervalued stocks may provide the opportunity to capture long-term equity performance.
  • Actively Managed ETF Structure – SURE is different from other buyback-focused investments that follow passive, market-cap weighted indexes and only reconstitute annually. SURE re-evaluates its investable universe and existing holdings monthly – adding or removing stocks and returning each security to an equal-weight allocation – allowing SURE to react more quickly to changes in buyback programs, acquisition announcements, etc. An ETF structure allows for better tax efficiency than mutual funds or than investing in the underlying stocks directly.
Where Can SURE Fit in a Traditional Portfolio?

SURE can serve as a thematic investment or a complement to a dividend investing or market-cap weighted core strategy.

About the Portfolio Strategist

Minyi Chen, Portfolio Strategist

Minyi Chen, CFA is the founder and CEO of Qubed Capital, a registered investment advisor founded in 2015 and based in Oakland, California. For over a decade, Mr. Chen has been providing quantitative financial research and analysis along with proprietary investment models to both retail and institutional investors. In the past, Mr. Chen has served as a portfolio manager of the AdvisorShares TrimTabs Float Shrink ETF (ticker: TTFS) and the TrimTabs International Free-Cash-Flow ETF (ticker: FCFI).

 

 

SURE Overview 

Get a quick and easy introduction to the SURE ETF.

 

SURE Overview

  Get a quick and easy introduction to the SURE ETF.

Fund

Price History

Fund Data

9/30/2025
NAV $124.14
Change $0.03
Shares Outstanding 395,000
Assets Under Management $49,033,389.36

 

 

 

 

Market Data

9/30/2025
Closing Price $123.73
Close Change $-0.08
Volume 511

Regulatory Data

9/30/2025
Premium Discount $-0.37
30-Day Median bid-ask Spread 0.000000
Premium/Discount Historical Data | NAV Historical Data | Daily Premium/Discount Historical Data

Shares are bought and sold at market price (closing price) not NAV and are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined), and do not represent the return you would receive if you traded at other times.

FUND

Characteristics

As of 8/31/2025

Source: Morningstar & AdvisorShares

FUND

Performance

As of 8/31/2025

 

  NAV Market Price Return Russell 3000 Index
1 Month 4.46 4.59 2.31
3 Months 8.08 8.09 9.88
YTD 5.62 5.62 10.58
1 Year 5.76 5.78 15.84
3 Years 13.52 13.55 18.81
5 Years 12.78 12.85 14.11
10 Years 9.57 9.57 13.98
Since Inception (10/04/2011, Annualized) 12.78 12.78 15.15

As of 6/30/2025

  NAV Market Price Return Russell 3000 Index
1 Month 3.15 3.25 5.08
3 Months 5.29 5.44 10.99
YTD 0.80 0.89 5.75
1 Year 5.34 5.57 15.30
3 Years 12.26 12.35 19.08
5 Years 13.39 13.44 15.96
10 Years 8.64 8.65 12.96
Since Inception (10/04/2011, Annualized) 12.56 12.57 14.98

As of 8/31/2025

  NAV Market Price Return Russell 3000 Index
1 Month 4.46 4.59 2.31
3 Months 8.08 8.09 9.88
YTD 5.62 5.62 10.58
1 Year 5.76 5.78 15.84
Since 9/1/2022, Annualized 13.56 13.67 18.79

Performance data quoted represents past performance and is no guarantee of future results. All Fund data and performance data quoted is believed to be accurate, and unless otherwise stated, is sourced from the Fund administrator, the Advisor’s or Sub-Advisor’s proprietary data, and Morningstar. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Returns less than one year are not annualized.

*On September 1, 2022, the AdvisorShares DoubleLine Value Equity ETF (the “Predecessor Fund”) was renamed the AdvisorShares Insider Advantage ETF. The Predecessor Fund had different portfolio managers and investment strategy than the AdvisorShares Insider Advantage ETF. Performance prior to September 1, 2022 reflects the Fund’s performance prior to the change in manager and investment strategy and may not be indicative of the Fund’s performance under the new manager and revised investment strategy. Performance since September 1, 2022 reflects actual  AdvisorShares Insider Advantage ETF performance.

Performance data quoted represents past performance and is no guarantee of future results. All Fund data and performance data quoted is believed to be accurate, and unless otherwise stated, is sourced from the Fund administrator, the Advisor’s or Sub-Advisor’s proprietary data, and Morningstar. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Returns less than one year are not annualized. One cannot invest directly in an index. The Russell 1000 Index represents the top 1000 companies by market capitalization in the United States. The index is a subset of the Russell 3000 Index. The Russell 3000 Index is broad market, capitalization-weighted index comprised of the largest 3,000 U.S. companies and represents 98% of the investable U.S. equity market. 

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Fund

Holdings

As of

Excel    CSV

Date Account Symbol Stock Ticker Security ID Security Description Shares Share Price Market Value Portfolio Weight Asset Group
09/30/2025 SURE NSSC 630402105 NAPCO SECURITY TECHNOLOGIES 15,961 42.95 685,524.95 1.40% S
LRCX 512807306 LAM RESEARCH CORP 4,846 133.90 648,879.40 1.32% S
PINC 74051N102 PREMIER INC-CLASS A 21,632 27.80 601,369.60 1.23% S
GOOG 02079K107 ALPHABET INC-CL C 2,429 243.55 591,582.95 1.21% S
PAGS G68707101 PAGSEGURO DIGITAL LTD-CL A 59,092 10.00 590,920.00 1.21% FS
APA 03743Q108 APA CORP 24,195 24.28 587,454.60 1.20% S
AAPL 037833100 APPLE INC 2,247 254.63 572,153.61 1.17% S
AMG 008252108 AFFILIATED MANAGERS GROUP 2,365 238.43 563,886.95 1.15% S
KLAC 482480100 KLA CORP 517 1,078.60 557,636.20 1.14% S
FCFS 33768G107 FIRSTCASH HOLDINGS INC 3,515 158.42 556,846.30 1.14% S
DHI 23331A109 DR HORTON INC 3,259 169.47 552,302.73 1.13% S
PHM 745867101 PULTEGROUP INC 4,128 132.13 545,432.64 1.11% S
MPC 56585A102 MARATHON PETROLEUM CORP 2,793 192.74 538,322.82 1.10% S
TKO 87256C101 TKO GROUP HOLDINGS INC 2,650 201.96 535,194.00 1.09% S
PHIN 71880K101 PHINIA INC 9,256 57.48 532,034.88 1.09% S
AMAT 038222105 APPLIED MATERIALS INC 2,538 204.74 519,630.12 1.06% S
DELL 24703L202 DELL TECHNOLOGIES -C 3,650 141.77 517,460.50 1.06% S
NTAP 64110D104 NETAPP INC 4,355 118.46 515,893.30 1.05% S
TJX 872540109 TJX COMPANIES INC 3,545 144.54 512,394.30 1.05% S
URI 911363109 UNITED RENTALS INC 535 954.66 510,743.10 1.04% S
CMBT B38564108 CMB TECH NV 54,373 9.39 510,562.47 1.04% FS
NYT 650111107 NEW YORK TIMES CO-A 8,879 57.40 509,654.60 1.04% S
RL 751212101 RALPH LAUREN CORP 1,620 313.56 507,967.20 1.04% S
FTI G87110105 TECHNIPFMC PLC 12,837 39.45 506,419.65 1.03% FS
HCA 40412C101 HCA HEALTHCARE INC 1,187 426.20 505,899.40 1.03% S
NVDA 67066G104 NVIDIA CORP 2,700 186.58 503,766.00 1.03% S
CAT 149123101 CATERPILLAR INC 1,050 477.15 501,007.50 1.02% S
TTC 891092108 TORO CO 6,567 76.20 500,405.40 1.02% S
GNTX 371901109 GENTEX CORP 17,655 28.30 499,636.50 1.02% S
OTIS 68902V107 OTIS WORLDWIDE CORP 5,437 91.43 497,104.91 1.01% S
R 783549108 RYDER SYSTEM INC 2,627 188.64 495,557.28 1.01% S
POOL 73278L105 POOL CORP 1,593 310.07 493,941.51 1.01% S
J 46982L108 JACOBS SOLUTIONS INC 3,293 149.86 493,488.98 1.01% S
ACN G1151C101 ACCENTURE PLC-CL A 2,000 246.60 493,200.00 1.01% FS
PH 701094104 PARKER HANNIFIN CORP 650 758.15 492,797.50 1.01% S
ODFL 679580100 OLD DOMINION FREIGHT LINE 3,500 140.78 492,730.00 1.00% S
CSCO 17275R102 CISCO SYSTEMS INC 7,200 68.42 492,624.00 1.00% S
HON 438516106 HONEYWELL INTERNATIONAL INC 2,340 210.50 492,570.00 1.00% S
MSFT 594918104 MICROSOFT CORP 950 517.95 492,052.50 1.00% S
ADI 032654105 ANALOG DEVICES INC 2,000 245.70 491,400.00 1.00% S
EME 29084Q100 EMCOR GROUP INC 756 649.54 491,052.24 1.00% S
WLY 968223206 WILEY (JOHN) & SONS-CLASS A 12,087 40.47 489,160.89 1.00% S
JPM 46625H100 JPMORGAN CHASE & CO 1,550 315.43 488,916.50 1.00% S
VRSN 92343E102 VERISIGN INC 1,748 279.57 488,688.36 1.00% S
BR 11133T103 BROADRIDGE FINANCIAL SOLUTIO 2,050 238.17 488,248.50 1.00% S
NUE 670346105 NUCOR CORP 3,600 135.43 487,548.00 0.99% S
MCD 580135101 MCDONALD'S CORP 1,600 303.89 486,224.00 0.99% S
WFC 949746101 WELLS FARGO & CO 5,800 83.82 486,156.00 0.99% S
MTG 552848103 MGIC INVESTMENT CORP 17,107 28.37 485,325.59 0.99% S
XOM 30231G102 EXXON MOBIL CORP 4,300 112.75 484,825.00 0.99% S
SHW 824348106 SHERWIN-WILLIAMS CO/THE 1,400 346.26 484,764.00 0.99% S
EG G3223R108 EVEREST GROUP LTD 1,383 350.23 484,368.09 0.99% FS
JOE 790148100 ST JOE CO/THE 9,776 49.48 483,716.48 0.99% S
AOS 831865209 SMITH (A.O.) CORP 6,587 73.41 483,551.67 0.99% S
UNH 91324P102 UNITEDHEALTH GROUP INC 1,400 345.30 483,420.00 0.99% S
ESNT G3198U102 ESSENT GROUP LTD 7,604 63.56 483,310.24 0.99% FS
QCOM 747525103 QUALCOMM INC 2,900 166.36 482,444.00 0.98% S
COP 20825C104 CONOCOPHILLIPS 5,100 94.59 482,409.00 0.98% S
ITW 452308109 ILLINOIS TOOL WORKS 1,850 260.76 482,406.00 0.98% S
BAC 060505104 BANK OF AMERICA CORP 9,350 51.59 482,366.50 0.98% S
MCRI 609027107 MONARCH CASINO & RESORT INC 4,542 105.84 480,725.28 0.98% S
DVN 25179M103 DEVON ENERGY CORP 13,700 35.06 480,322.00 0.98% S
PRG 74319R101 PROG HOLDINGS INC 14,812 32.36 479,316.32 0.98% S
TMUS 872590104 T-MOBILE US INC 2,000 239.38 478,760.00 0.98% S
YUM 988498101 YUM! BRANDS INC 3,124 152.00 474,848.00 0.97% S
GL 37959E102 GLOBE LIFE INC 3,320 142.97 474,660.40 0.97% S
BYD 103304101 BOYD GAMING CORP 5,488 86.45 474,437.60 0.97% S
HLT 43300A203 HILTON WORLDWIDE HOLDINGS IN 1,827 259.44 473,996.88 0.97% S
CTS 126501105 CTS CORP 11,850 39.94 473,289.00 0.97% S
MMC 571748102 MARSH & MCLENNAN COS 2,340 201.53 471,580.20 0.96% S
HIG 416515104 HARTFORD INSURANCE GROUP INC 3,532 133.39 471,133.48 0.96% S
NRG 629377508 NRG ENERGY INC 2,903 161.95 470,140.85 0.96% S
META 30303M102 META PLATFORMS INC-CLASS A 640 734.38 470,003.20 0.96% S
CSX 126408103 CSX CORP 13,232 35.51 469,868.32 0.96% S
GGG 384109104 GRACO INC 5,530 84.96 469,828.80 0.96% S
VNT 928881101 VONTIER CORP 11,181 41.97 469,266.57 0.96% S
SEIC 784117103 SEI INVESTMENTS COMPANY 5,478 84.85 464,808.30 0.95% S
ZTS 98978V103 ZOETIS INC 3,165 146.32 463,102.80 0.94% S
RPRX G7709Q104 ROYALTY PHARMA PLC- CL A 13,081 35.28 461,497.68 0.94% FS
MSCI 55354G100 MSCI INC 810 567.41 459,602.10 0.94% S
WH 98311A105 WYNDHAM HOTELS & RESORTS INC 5,722 79.90 457,187.80 0.93% S
RNR G7496G103 RENAISSANCERE HOLDINGS LTD 1,775 253.93 450,725.75 0.92% FS
MUSA 626755102 MURPHY USA INC 1,143 388.26 443,781.18 0.91% S
BKNG 09857L108 BOOKING HOLDINGS INC 82 5,399.27 442,740.14 0.90% S
EOG 26875P101 EOG RESOURCES INC 3,871 112.12 434,016.52 0.89% S
JBHT 445658107 HUNT (JB) TRANSPRT SVCS INC 3,229 134.17 433,234.93 0.88% S
RS 759509102 RELIANCE INC 1,532 280.83 430,231.56 0.88% S
HNI 404251100 HNI CORP 9,085 46.85 425,632.25 0.87% S
TTEK 88162G103 TETRA TECH INC 12,739 33.38 425,227.82 0.87% S
VRSK 92345Y106 VERISK ANALYTICS INC 1,678 251.51 422,033.78 0.86% S
CHDN 171484108 CHURCHILL DOWNS INC 4,345 97.01 421,508.45 0.86% S
V 92826C839 VISA INC-CLASS A SHARES 1,234 341.38 421,262.92 0.86% S
FCNCA 31946M103 FIRST CITIZENS BCSHS -CL A 232 1,789.16 415,085.12 0.85% S
CNXC 20602D101 CONCENTRIX CORP 8,986 46.15 414,703.90 0.85% S
ALSN 01973R101 ALLISON TRANSMISSION HOLDING 4,858 84.88 412,347.04 0.84% S
BSY 08265T208 BENTLEY SYSTEMS INC-CLASS B 7,999 51.48 411,788.52 0.84% S
BBWI 070830104 BATH & BODY WORKS INC 15,958 25.76 411,078.08 0.84% S
DOX G02602103 AMDOCS LTD 4,902 82.05 402,209.10 0.82% FS
MATX 57686G105 MATSON INC 3,980 98.59 392,388.20 0.80% S
IRDM 46269C102 IRIDIUM COMMUNICATIONS INC 19,019 17.46 332,071.74 0.68% S
CASH 284,398.65 100.00 284,398.65 0.58% CA
Holdings and allocations are subject to risks and to change. 

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FUND

Fees & Expenses

Management Fee 0.70%
Total Annual Operating Expenses 1.07%
Total Annual Operating Expenses After Waiver/Reimbursement* 0.90%

*The Advisor has contractually agreed to keep net expenses from exceeding 0.90% of the Fund’s average daily net assets for at least one year from the date of the prospectus. For more information, please read the full prospectus.

Last Ten

Fund Distributions

  • Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by visiting the Fund’s website at www.AdvisorShares.com. Please read the prospectus carefully before you invest. Foreside Fund Services, LLC, Distributor. 
  •    
  • The Fund’s investment focus follows a core philosophy that corporate insiders know their companies best.  The Advisor believes that insider buying and stock buyback programs not only show that corporate insiders see relative value in investing in their own company’s equity securities, but also create favorable market conditions by reducing public equity float (i.e., the share supply available to investors on the public secondary market).  The Advisor allocates the Fund’s portfolio using research from a disciplined and quantitative proprietary model, the U.S. Insiders Edge Model, developed by Qubed Capital, LLC. In utilizing the model, the Advisor seeks to remove emotion from day-to-day decision-making by following a systematic process.
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  • The Fund is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by primarily investing in a portfolio of U.S. traded companies selected from a universe of the largest 3,000 U.S. equity securities based on market capitalization. When models and data prove to be incorrect or incomplete, any decisions made in reliance thereon expose the Fund to potential risks. In addition, the use of predictive models has inherent risk.
  •  
  • Definitions   
    A buyback occurs when a company repurchases its own shares from the marketplace, reducing the number of shares outstanding.
  •   
  • Equity float is the portion of a company’s outstanding shares that is in the hands of public investors, as opposed to company officers, directors, or stockholders that hold controlling interests that have trading restrictions.
  •     
  • Float shrink is a reduction in the number of a company’s shares available for trading.
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  • Free cash flow represents the cash a company generates after accounting for cash outflows to support operations and maintain its capital assets. It is a measure of profitability and represents the cash available for the company to repay creditors and pay out dividends and interest to investors.
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  • An insider is an officer, director, executive, entity, or individual that owns more than 10% of a publicly traded company’s shares.
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  • Insider buying is the legal purchase of shares in a firm by a corporate insider that is not based on non-public, material information and follows the U.S. Securities and Exchange Commission’s rules and reporting requirements. 
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  • Insider trading is the illegal trading a publicly traded company’s security by anyone who has non-public, material information about that security before the information becomes public.